July 31, 2018 / 6:24 AM / 3 months ago

Sweden's Hexagon Q2 organic growth tops forecasts

STOCKHOLM, July 31 (Reuters) - Swedish industrial technology company Hexagon reported second quarter organic growth ahead of expectations and said its oil-exposed power, process and marine unit (PPM) grew strongly over the period.

Adjusted quarterly operating earnings grew to 228 million euros ($267 million) in the three months ended June 30, up from 205 million euros a year ago and beating the 226 million forecast in a Reuters poll of analysts.

Organic sales for the group rose 9 percent, versus the 7 percent growth noted in the first quarter and higher than the mean forecast for a 7.4 percent increase. ($1 = 0.8538 euros) (Reporting by Esha Vaish in Stockholm)

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